How does an ex-spouse’s bankruptcy affect title to real estate?
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How does an ex-spouse’s bankruptcy affect title to real estate?
My house was awarded to me in the divorce, however, both of our names stayed on the mortgage. He has since filed for bankruptcy and has said that he included the home. I am trying currently to sell the home. Can he include th home since it was legally awarded to me and is still in my name as well? How do I proceed? I have offers for my house etc. but the bank wants his signature on things. He is refusing to sign.
Asked on April 26, 2011 under Bankruptcy Law, Texas
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
That depends on a number of factors. First of all, what chapter of bankruptcy did he file? Was title on the property transferred into your name? If so, when was it recorded? If it was within 1 year prior to the bankruptcy filing, it won't matter because the Trustee could avoid the transfer in any event.
If title has not transferred, then he absolutely had to list the property in his bankruptcy case. If he filed a Chapter 7 case, then he presently has no interest in the property--the Trustee in his bankruptcy does unless and until the Trustee decides not to do anything with the property.
Whether the trustee will sell the property depends on how much equity there is in the property and what exemptions were available to him under applicable state law (and, of course, whether he took those exemptions in his bankruptcy case).
There is simply nowhere near enough information to answer your question. You need to consult with a bankruptcy attorney in the jurisdiction where the case was file. If you want to write back and submit a new question including all the missing information, I'm happy to more fully respond.
In the meantime, if he filed a Chapter 7 case, you should contact the Trustee to see if he/she would be willing to sign off on any sale offers, but you should be clear on what interest the Trustee has in the property before doing that.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 13 years ago | Contributor
That depends on a number of factors. First of all, what chapter of bankruptcy did he file? Was title on the property transferred into your name? If so, when was it recorded? If it was within 1 year prior to the bankruptcy filing, it won't matter because the Trustee could avoid the transfer in any event.
If title has not transferred, then he absolutely had to list the property in his bankruptcy case. If he filed a Chapter 7 case, then he presently has no interest in the property--the Trustee in his bankruptcy does unless and until the Trustee decides not to do anything with the property.
Whether the trustee will sell the property depends on how much equity there is in the property and what exemptions were available to him under applicable state law (and, of course, whether he took those exemptions in his bankruptcy case).
There is simply nowhere near enough information to answer your question. You need to consult with a bankruptcy attorney in the jurisdiction where the case was file. If you want to write back and submit a new question including all the missing information, I'm happy to more fully respond.
In the meantime, if he filed a Chapter 7 case, you should contact the Trustee to see if he/she would be willing to sign off on any sale offers, but you should be clear on what interest the Trustee has in the property before doing that.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
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